Marathon Digital completes $250 million Bitcoin purchase
Marathon Digital, which is seen as the world's largest Bitcoin mining company, earned $300 million from the sale of private bonds and received 4144 BTC with 250 million dollars of this amount. It was announced that the purchase average was 59,500 dollars. The total number of Bitcoins owned by the company exceeded 25 thousand.
US-based Bitcoin mining company Marathon Digital continues to buy Bitcoin under its strategic reserve policy. In July, the company, which bought 2282 BTC for $120 million, then started selling 250 million dollars of private bonds to buy Bitcoin again.
There was more interest in selling this bond than expected, and the company sold extra bonds, earning a total amount of close to $292 million. With this money, 249 million dollars of Bitcoin was bought. In the official statement, it was noted that 4144 BTC was purchased and the total number of Bitcoin held exceeded 25 thousand.
The expiration period of the private bonds sold was specified as 2031. Investors will be able to get their equivalent in cash, Marathon stock, or both, when they want to sell their bonds.
More Bitcoin will be taken
In the statement made by Marathon, it was informed that the company payments will be made with the cash remaining from the BTC received with the 292 million dollars obtained from the sale of private bonds, and then Bitcoin will be bought again with the remaining cash from here.
According to the information given by Lookonchain, Bitcoins received between August 12-14 were obtained from Galaxy Digital, FalconX and NYDIG companies.
In the minutes of writing the news, Bitcoin is trading around $58,800. $BTC